4 Reasons People Believe They Don’t Need Disability Insurance

To put it simply, disability insurance helps to protect your paycheck in the event that you become ill or injured. Once you make a claim after an injury, disability insurance will pay a portion of your salary to keep your financially stable as you recover.

Even though this insurance is clearly an asset to any worker, many people still don’t see the value in it. There are some that can afford to live without their pay for some time, but that isn’t an option for many of us so why do people still overlook the coverage? Here are some common reasons why disability coverage is often seen as unimportant.  Continue reading

Teaching Your Children Valuable Financial Lessons & Protecting Their Future

Teaching Your Children Valuable Financial Lessons & Protecting Their Future

Properly preparing your finances in the event of the birth of your child is a smart move that any responsible parent should make. But what about helping your children prepare themselves for protecting their own financial future? Making sure your kids know the right financial steps to take as they grow is just as important as simply preparing your own finances for them when they are born.

This week we’re taking a look at some ways parents can help show their children how to be more economically secure. The following are steps that will help teach your kids about the benefits of preparing for the future and while you ensure that they are set on the right financial path. Continue reading

Buying Life Insurance for Someone Else, What You Need to Know

Buying Life Insurance for Someone Else, What You Need to Know

People are most familiar with taking out a life insurance policy on themselves to financially provide for their family should anything happen. The benefit from your plan can go towards paying for final costs, covering education fees for your kids, or helping your surviving spouse stay financially stable. But is it possible to purchase life insurance on someone else?

The short answer is yes, you can buy life insurance on another person. The long answer is that even though it is possible there are certain criteria that must be met. Today, we’re taking a look at what you need to know about getting insurance for someone else. Continue reading

How to Discuss Life Insurance with Different Family Members

How to Discuss Life Insurance with Different Family Members

Life insurance can be a difficult topic to talk about with those who matter most to you. Since insurance is so often closely associated with death and the surviving family’s life, discussing the purchase of a plan isn’t many people’s favourite topic. This raises the question of how do you talk about this with a spouse or parent who may be uncomfortable with the subject?

The right coverage plan is so crucially important, especially if you have dependants, that ensuring the topic is discussed is the responsible action to take. If you find yourself struggling with getting through to someone about getting insured, we have some helpful tips that will make the discussion easier on everyone. Continue reading

5 Life Insurance New Years Resolutions You Should Adopt

5 Life Insurance New Years Resolutions You Should Adopt

As we bid farewell to 2016 and usher in the new year, many people are deciding to take up new resolutions to make the best of 2017. Typically, people make changes to their diet or take up a new hobby, but not many think about the health of their life insurance policy.

It can be easy to forget about life insurance as we enter the new year and partake in all the festivities, but it’s more important than you may think. After celebrating the holidays and being with loved ones there is no better time to start thinking about your coverage. Nothing is certain about the new year and for that reason alone you should ensure that your family is protected.

Make life insurance a new resolution of yours in 2017 and safeguard the financial future of those who matter most to you in the new year. Here are a few life insurance resolutions you can choose from. Continue reading

6 Crucial Steps to Help Your Elderly Parents with Their Finances

6 Crucial Steps to Help Your Elderly Parents with Their Finances

Helping our aging parents with their finances is a step that a majority of us may have to take at some point in our lives. It can be a stressful task to undertake, especially when it comes about suddenly. But there are ways you can make it more streamlined and easy on both you and your parents.

Being concerned about your parent’s finances is normal and even if they are independent now, it doesn’t mean they’ll always be. This week at Canada Life Insurance, we’ve created a what-to-do guide to helping your parents with their finances and financial decisions. No parent wants to burden their children with financial issues, but if you follow these steps both you and your parents won’t have a difficult time. Continue reading

5 Steps to Creating a Personal Financial Budget

5 Steps to Creating a Personal Financial Budget

For families and couples young and old, budgeting your spending habits helps to build a stable financial future. This personal financial survey will allow you and your loved ones to practice spending more efficiently and focus on growing your savings. But how do you go about actually creating a budget?

Many people hear the word budget and immediately associate it with negative a connotation. But many people do use budgets to gain control their finances. If it’s your first time budgeting, it’s normal to feel like you’re overwhelmed. At Canada Life Insurance, we’ve decided to formulate a simple monthly budget building strategy to help anyone who is struggling with getting their financial situation in order. Continue reading

When and Why You Need to Update Your Beneficiaries

When and Why You Need to Update Your Beneficiaries

Choosing your life insurance plan’s beneficiary is just as important a choice as your choice of plan type. Depending on your life situation and the policy you decide to go with, your beneficiary can be your children, spouse, or even a charity. But as with most everything else in life, your plan needs to be reviewed and changed, especially when it comes to your insurance plan’s payee.

Reviewing your beneficiary is a crucial step to ensuring that you’re fully maximizing your plan’s worth. A beneficiary that you may have designated in the past may or may not still be the right choice today. This is something you need to keep on top of in order avoid unintended consequences and issues when your assets need to be passed on.

This week, we’re looking at when and why it is so crucial to update your beneficiary information. By looking closely at some good examples that necessitate a beneficiary change, you will have a better idea of what to look out for in your life. Continue reading

Effective Ways to Manage Workplace Stress

Effective Ways to Manage Workplace Stress

Workplace stress is a normal factor for employees in any profession, but excessive amounts can harm you both mentally and physically. Whether its worries about overall performance, pressure to meet consistent deadlines or recent disagreements with your bosses, stress from your job can come from many factors.

A recent survey highlighted by Huffington Post stated that more than one in four Canadians deal with high levels of stress in the workplace. A large majority of people surveyed said that their work days are often extremely stressful. Studies have shown that stress brought on by the pressures of the workplace is leaving people with mental health that is the same or worse than those who are struggling with unemployment.

This week, we’re taking a look at some of the stress warning signs you need to look out for if you are feeling overwhelmed. Also, we have gathered some tips to help you overcome and protect yourself from workplace stress. Continue reading

Why You Need an Insurance Broker

Why You Need an Insurance Broker

 

You have a choice when it comes to how you purchase your insurance policy, a choice that can mean the difference between a good buying experience and a great one. You make the decision to go directly to the insurance company and buy a plan through them, or you go to a brokerage and speak with a broker. But what’s the better option?

Many people have the mistaken belief that, by going directly to the insurer, you are getting the best possible deal. It’s understandable to think that if you are planning to get a policy from someone, then you should probably deal directly with them, right?

Wrong. There are a number of very important reasons why going through a broker is the best move you can make. This week, we look at the role of an insurance broker and why using one will help you get the most out of your coverage. Continue reading